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Knehans Inc. just paid a dividend of D 0 = $ 1 . 5 5 . Analysts expect the company's dividend to grow by 1

Knehans Inc. just paid a dividend of D0= $1.55. Analysts expect the company's dividend to grow by 10% this year, by 8% in Year 2, and at a constant rate of 4% in Year 3 and thereafter. The required return on this stock is 9.00%. What is the per-share estimate of the stocks intrinsic value?
a. $35.35
b. $36.76
c. $37.50
d. $38.75
e. $40.00

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